Economic data that will impact GBPEUR exchange rate this week (Dayle Littlejohn)

For my regular readers I hope you had a fantastic Christmas and New Year!

This week the Eurozone is set to release their latest Consumer Price Index numbers (inflation) at 10am on Tuesday. The consensus is for a rise to 0.3% from 0.2%, which will no doubt strengthen the Euro and justify the ECB’s decision not to increase the amount of Quantitative Easing entering the Eurozone each month.

Nothing is a certainty within the currency markets however if you have Euros to buy this week there’s an argument to suggest this data release could have a negative impact on the exchange rate you receive therefore trading today may give you the best exchange rate this week.

Later in the week (Thursday at 12.30) is the latest Monetary Policy Meeting Accounts from the ECB. The accounts give an overview to the financial markets and a rational behind monetary policy decisions. If the minutes are bullish like the ECBs stance on Q.E. early in December we could see further Euro strength.

If you have an upcoming currency transfer at some point throughout 2016 now is the time to start your preparation. Firstly I would recommend emailing me with your individual requirement (buying a property/ company invoice etc) and timescales. I will personally respond to you with a forecast and the buying process. [email protected] Dayle Littlejohn.

I wish you all the best in 2016!